Some of these articles have been written by our law firm and other articles are written by the American Academy of Estate Planning Attorneys and compliments of our law firm. Any feedback or questions about the articles can be addressed by contacting our office.
You likely worked hard, saved wisely, and invested prudently to acquire the assets you now have. Now, all you need to do is to protect those assets. To accomplish that goal, you need to understand how and why your assets might be at risk as well as learn more about asset protection tools and strategies.
You may have heard friends and family members discussing the need to avoid probate; however, you may not understand why avoiding probate is so important. Now is the time to learn more about probate avoidance so you have plenty of time to start including appropriate strategies in your estate plan.
If they had the funds, most people would not think twice about gifting assets to an adult child or loved one. But, that gift could jeopardize Medicaid eligibility. Moreover, you may need that eligibility to help pay for the high price of long-term care for you or a spouse.
Not long ago, women rarely took much interest in estate planning for several reasons. Today, however, the need for estate planning is even greater if you are a woman. Debunking some of the common myths surrounding the concept of women and estate planning is a good place to start.
Protecting the family fortune requires more than just a basic estate plan. Contemplating the need to qualify for Medicaid to help cover the high cost of long-term care should be an integral part of any comprehensive estate plan. One frequently used Medicaid planning tool that can protect your assets from the Medicaid spend-down requirement is an Irrevocable Income Only Trust.
Did you just find out you are the Trustee of a Trust? If so, you are probably feeling honored, and maybe a bit intimidated if this is your first time acting as a Trustee. In this article, find out what a Trustee’s role is within the Trust as well as the duties and responsibilities of a Trustee.
Hiring an estate planning attorney has its challenges, especially if your current attorney is preparing to retire or relocate. Here are a few tips that can help you make the transition.
Many of the obstacles same-sex couples faced until now are no longer unanswered questions or impossible challenges. Due to the Supreme Court’s decision in Obergefell this past June, estate planning, taxes, and other important legal quagmires are a bit clearer – and more easily achieved.
As parents, one of the challenges we face is ensuring our children feel as though they’re treated fairly and loved equally. What many may not realize, however, is that sometimes accomplishing this doesn’t include equal divisions, especially after they’ve reached adulthood. This is also sometimes the case with Estate Planning. While it’s designed to efficiently distribute your assets after your death, it’s also meant to see your final wishes implemented. The challenge is making sure your children understand that after assessing the dynamics and factors associated with your family and the needs of each family member, your final wishes may appear to be unfair, even though your goal was always to address the needs of each child versus the collective family.